Analysts Set European Wax Center, Inc. (NASDAQ:EWCZ) Price Target at $6.64

Shares of European Wax Center, Inc. (NASDAQ:EWCZ) have received a consensus recommendation of “Hold” from the seven analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $6.64.

A number of research analysts recently weighed in on EWCZ shares. Morgan Stanley reissued an “underweight” rating and set a $5.00 price target on shares of European Wax Center in a research report on Friday, November 15th. Piper Sandler lowered European Wax Center from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $9.00 to $7.00 in a report on Monday, January 6th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $6.00 target price on shares of European Wax Center in a research note on Tuesday, January 14th.

European Wax Center Price Performance

Shares of NASDAQ:EWCZ opened at $7.35 on Friday. The company has a current ratio of 3.17, a quick ratio of 2.42 and a debt-to-equity ratio of 3.81. The stock has a market cap of $418.53 million, a PE ratio of 31.96, a price-to-earnings-growth ratio of 1.72 and a beta of 0.95. The stock’s fifty day simple moving average is $6.40 and its two-hundred day simple moving average is $6.67. European Wax Center has a 1-year low of $4.80 and a 1-year high of $15.83.

Insider Activity at European Wax Center

In related news, Director Nital P. Scott sold 4,344 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $5.85, for a total transaction of $25,412.40. Following the sale, the director now owns 29,262 shares of the company’s stock, valued at approximately $171,182.70. This represents a 12.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 6.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On European Wax Center

Institutional investors and hedge funds have recently made changes to their positions in the business. Two Sigma Securities LLC purchased a new position in European Wax Center in the 4th quarter worth approximately $83,000. Price T Rowe Associates Inc. MD raised its position in European Wax Center by 14.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,452 shares of the company’s stock worth $84,000 after purchasing an additional 1,582 shares during the period. Oxford Asset Management LLP bought a new stake in shares of European Wax Center in the 4th quarter valued at about $88,000. SG Americas Securities LLC bought a new stake in European Wax Center in the third quarter valued at approximately $93,000. Finally, Intech Investment Management LLC bought a new stake in European Wax Center during the 4th quarter valued at $106,000. Hedge funds and other institutional investors own 82.14% of the company’s stock.

European Wax Center Company Profile

European Wax Center, Inc operates as the franchisor and operator of out-of-home waxing services in the United States. It offers body and facial waxing services; and pre- and post-service products, including ingrown hair serums, exfoliating gels, brow shapers, and skin treatments. The company was founded in 2004 and is headquartered in Plano, Texas.